RAMENDRA MOHAN DATTA, J.

( 1 ) THIS appeal has been preferred from the judgment and order of Ghosh, J. D/-10-11-1971 staying the suit filed herein under Section 34 of the Arbitration Act, 1940.

( 2 ) THE facts are that by exchange of a bought and a corresponding sold note both bearing No. RJ-50521 dated March 16, 1968, through the broker R. L. Saraf and Co. , the respondent No. 1 herein, Lalchand Dharamchand sold to the appellant 600 maunds of Agartala Mesta Fibre at the rate of Rs. 38. 50 P. per maund working out at Rs. 103. 15 p. per quintal, delivery on 31st March, 1968, at the buyers mill siding. The said contract between the parties was subject to the terms and conditions of the East India Jute and Hessian Exchange Association Ltd. relating to contracts for jute. The relevant bye-laws of the said Association contained an arbitration clause and the same provided as follows:"17. All matters, questions, disputes, difference and/or claims arising out of and/or concerning and/or in connection with and/or in conseqeunce of or relating to this contract including matters relating to insurance and demurrage whether or not the obligations of either or both parties under this contract

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